COPENHAGEN Oct 1 Danish freight forwarder DSV
has agreed to buy Dubai-based Swift Freight, it said on
Monday, with the aim of expanding in the Middle East and Africa.
Swift generated revenue of about $70 million in the last 12
months and has 400 employees, DSV said in a statement, which did
not disclose the purchase price.
The purchase agreement includes full ownership of the
companies in the United Arab Emirates, China and India and
initially a 33 percent share of the companies in Africa, DSV
said, adding it expected to obtain full ownership of the African
entities in the future.
(Reporting by Mette Fraende; Editing by Greg Mahlich)